A new report released this week by The New York State Economic Development Council details the tremendous positive impact that Industrial Development Agencies (IDAs) have on New York State’s economy. According to the report, in 2021, IDAs helped create and retain 1.3 million jobs representing $141 billion in annual wages. Those wages helped generate $12.4 billion in annual New York State Tax revenue. For every dollar of taxes abated, IDA projects generated $6.57 in new tax revenue for NYS. In addition, for every one dollar of exemptions issued, $74.89 in employee earnings was generated in the state and $237.46 in […]